PTSB Increase Current Account Maintenance Fees for some

Daddy Ireland said:
I guess I would have to get a new cheque book for the account I.e. I assume they wouldn't just transfer over my existing permanent tsb a/c number.
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Everything - a/c number, cheque book, DDs, SOs, etc. - will stay the same but they will insist you present yourself at a branch with photo ID . . which is a bit of a pain as it's entirely unnecessary, if they can change you to a Type 4 account with the click of a button they could just as easily have changed you to an Explore Account (on request) . . but they won't.
 
When closing your ptsb a/c and it's only a week into that month I'm guessing it would be wise to make sure the 1.5k passes through or face a charge for that month, is this correct.
 
I am also planning to change my bank account to a different bank, I was thinking of KBC and AIB. The problem with KBC is it being cashless and other problem is simply you can't go to a branch and cash out any amount of money you want (above ATM withdrawal limits). I also have this feeling of KBC will be joining the wagon to ask their customers to keep certain amount of money in their account (like AIB and now PTSB) then it will be same thing.

I am fine with keeping €2500 in my bank account, for AIB, just because of their self service machines and Apple Pay support, I know KBC has it also. But they ask you to keep the money in your current account, which means you can accidentally spend this money or look at your bank account at the end of the month and think that you are actually rich and can afford the next drink, but when your balance goes below 2500 then they start charging you, and as I see, AIB has fee for many things, even for using self service machines.

My question is, if there is a way to keep 2500 in your current account but make it inaccessible via your bank card, so you simply can't spend it by accident?
 
KBC have started an advertising campaign saying that they are not increasing current account fees. Hence, it would seem that KBC currently account fees are not changing in the near future.

There is no way to stop you going below a 2,500 EUR balance with AIB.
 
I received my letter from PTSB the other day regarding changes to my current account. To be exempt form the €18 quarterly charge my minimum cleared balance must be €2500 daily, so roughly a twenty fold increase in cleared funds from the €126 need at the minute. They are reducing the credit interest rate from 0.25% to 0.01% on balance up to €1500. If I want an overdraft they will charge me 1500 times their credit interest rate ie 15%, and a €25 set up fee too! Nice margins !
 
I made the switch to the Explore Account and so far so good. I've made back a fair bit using the card. It was easier than switching banks. I might still go to EBS at some stage, although their terrible internet banking and no App are putting me off.
 
Worth noting on this that EBS debit cards will be contactless from June20th onwards. This may make their MoneyManager account slightly more attractive. Its still rubbish online IMO, but the contactless card is a step in the right direction....
 
I kind of left this on the long finger but anyway, I moved to KBC and KBC requested PTSB to close my account, KBC informed me PTSB refused to close my account due to outstanding fees or something I think.

I just logged into my PTSB app and they have charged me €18 in fees, I am just wondering how should I proceed now to get the account closed, will have to called into the branch or would they close it via letter ?
 
Both a letter or a branch call in should work. Might be simplest to just drop into the branch.
 
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